Which of the Following Statements Are True About Inventory Accuracy

question 26

Multiple Choice

Which of the following statements are true about inventory accuracy?
I. Inventory accuracy is essential for planning.
II. It is important to find the cause of record error.
III. Periodic audits of inventory will find the cause of record error.

• A) all the above
• B) I and II
• C) I and III
• D) II and III
• E) none of the above.

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Definitions:

Rack Jobbers

Merchandising agents who enter stores to stock and maintain inventory, often in the music or book sectors.

Hosiery

A category of garments worn on the legs and feet, such as socks and tights, often for fashion, comfort, or the needs of work attire.

Health and Beauty

A market sector focused on products and services designed to enhance physical appearance and well-being.

Consignment

A supply chain agreement where goods are sent to a retailer who pays the supplier only after the items are sold.